Royal Mail: the outlook for 2021-22 contains a number of uncertainties that could significantly influence volumes and costs

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Royal Mail: the outlook for 2021-22 contains a number of uncertainties that could significantly influence volumes and costs
Royal Mail has announced its Full Year results for 2020-21 revealing full year performance well above initial expectation –  Group operating profit surged 116% to £702 million – however no guidance has been given for 2021-22 due to ” a number of uncertainties”.
Financial Highlights
• Full year performance well above initial expectations driven by strong parcel growth at both Royal Mail and GLS.
• Group adjusted operating profit  up 116.0% with a broadly equal contribution from Royal Mail and GLS.
• Royal Mail parcels revenue up 38.7%, partly offset by letters decline of 12.5%. Operating costs up 9.2%.

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